K-Bro Linen (TSE:KBL) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

K-Bro Linen Inc. (TSE:KBL)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$39.96 and traded as high as C$45.91. K-Bro Linen shares last traded at C$45.36, with a volume of 15,701 shares traded.

Analysts Set New Price Targets

A number of research firms recently issued reports on KBL. Stifel Nicolaus boosted their target price on shares of K-Bro Linen from C$52.00 to C$54.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. ATB Cormark Capital Markets raised their price target on shares of K-Bro Linen from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. TD Securities raised shares of K-Bro Linen to a “strong-buy” rating in a research note on Friday, July 24th. Raymond James Financial upped their price objective on shares of K-Bro Linen from C$50.00 to C$54.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, TD increased their price objective on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$53.17.

K-Bro Linen Price Performance

The company has a market cap of C$591.84 million, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. The company has a debt-to-equity ratio of 113.71, a quick ratio of 0.87 and a current ratio of 1.85. The stock’s fifty day moving average is C$45.29 and its two-hundred day moving average is C$40.04.

K-Bro Linen (TSE:KBL) last released its quarterly earnings results on Tuesday, August 4th. The company reported C$0.78 EPS for the quarter. The business had revenue of C$150.36 million during the quarter. K-Bro Linen had a return on equity of 7.89% and a net margin of 3.67%. Sell-side analysts predict that K-Bro Linen Inc. will post 2.3389262 earnings per share for the current fiscal year.

Insider Activity at K-Bro Linen

In related news, insider Jeffrey Ronald Gannon sold 1,225 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$42.00, for a total transaction of C$51,450.00. Following the completion of the sale, the insider directly owned 15,407 shares of the company’s stock, valued at approximately C$647,094. This trade represents a 7.37% decrease in their ownership of the stock. Also, insider K-Bro Linen Inc. purchased 5,341 shares of K-Bro Linen stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average price of C$41.25 per share, with a total value of C$220,316.25. Following the transaction, the insider owned 338,581 shares of the company’s stock, valued at C$13,966,466.25. This trade represents a 1.60% increase in their position. Over the last ninety days, insiders bought 14,622 shares of company stock valued at $605,901. 3.25% of the stock is currently owned by corporate insiders.

About K-Bro Linen

K-Bro Linen Inc is a healthcare and hospitality laundry and linen processor in Canada. It operates in major cities across Canada, and has two distribution centers, providing management services and laundry processing of hospitality, healthcare, and specialty linens. The company provides vital products and services that help people heal, travel, live, and play. It helps hospitals and extended care centers care for the young, old, and vulnerable in environmentally responsible ways. It operates through two divisions, which are the Canadian division and the United Kingdom division.